United States · Bill · S
S. 1678 (97th)
A bill to amend the Employee Retirement Income Security Act of 1974 with regard to mortgage investments.
Introduced
29 September 1981
Last action
—
Status
Subcommittee on Labor. Hearings held.
Sponsors
—
Subjects
Discovery layer
Source updated
21 April 2025
Summary
Amends the Employee Retirement Income Security Act of 1974 to provide that certain fiduciary duties under such Act shall be deemed satisfied by investments in residential housing mortgages that provide adequate security and a reasonable rate of interest. Exempts from specified prohibitions under such Act the placing, investing, or purchase of a mortgage secured by residential housing property if such investment or sale: (1) is adequately secured; (2) is made in accordance with specific provisions regarding such loans set forth in the employee benefit plan; and (3) bears a reasonable rate of interest.
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Votes
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 29 September 1981
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/97th-congress/senate-bill/1678
- Open data entity: https://api.congress.gov/v3/bill/97/s/1678